point of diminishing returns (D)most productive point (P)economic capacity (E)Once a point is plotted, a tool icon will pop up. You can use this to enter exact co-ordinates for your points as needed.Costs3N4080160200 280240Quantity of output120320360 400Tools-8DPrevof 85Next > c) Assuming that the cost of employing each worker is $220 per day (including wages and materials), and Custom Made Pot has dailyfixed costs of $400, fill in Table B given below: Round your AVC and MC answers to one decimal place.NumberofTP =WorkersOutput12345618801802402802947TVC($)622044066088011001320TFCTable B400400400400400400TC6208401060128015001720AVC($)225.53.673.67GATC6210.55.895.335.335.33.94.5 5.8d) On the graph given below, plot the following points showing the quantity and dollar amounts.point of diminishing returns (D)most productive point (P)economic capacity (E)Once a point is plotted, a tool icon will pop up. You can use this to enter exact co-ordinates for your points as needed.ToolsQuestion 1- CH 6: In-Class Activity xMC($)0220220220220220Previ1 of 8Next >O & https://exto.mheducation.com/ext/map/index.html?l

No of Workers TP 1 10 2 80 3 180 4 240 5 280 6 294 Variable Cost = 220 per day Fixed…

• point of diminishing returns (D) most productive point (P) economic capacity (E) Once a point is plotted, a tool icon will pop up. You can use this to enter exact co-ordinates for your points as needed.

• point of diminishing returns (D) most productive point (P) economic capacity (E) Once a point is plotted, a tool icon will pop up. You can use this to enter exact co-ordinates for your points as needed.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter8: Cost Analysis

Section: Chapter Questions

Problem 9E

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Question

point of diminishing returns (D)
most productive point (P)
economic capacity (E)
Once a point is plotted, a tool icon will pop up. You can use this to enter exact co-ordinates for your points as needed.
Costs
3
N
40
80
160
200 280
240
Quantity of output
120
320
360 400
Tools
-8
D
Prev
of 85
Next >

c) Assuming that the cost of employing each worker is $220 per day (including wages and materials), and Custom Made Pot has daily
fixed costs of $400, fill in Table B given below: Round your AVC and MC answers to one decimal place.
Number
of
TP =
WorkersOutput
1
2
3
4
5
6
18
80
180
240
280
294
7
TVC($)
6
220
440
660
880
1100
1320
TFC
Table B
400
400
400
400
400
400
TC
620
840
1060
1280
1500
1720
AVC($)
22
5.5
3.67
3.67
G
ATC
62
10.5
5.89
5.33
5.33
5.3
3.9
4.5 5.8
d) On the graph given below, plot the following points showing the quantity and dollar amounts.
point of diminishing returns (D)
most productive point (P)
economic capacity (E)
Once a point is plotted, a tool icon will pop up. You can use this to enter exact co-ordinates for your points as needed.
Tools
Question 1- CH 6: In-Class Activity x
MC($)
0
220
220
220
220
220
Prev
i
1 of 8
Next >
O & https://exto.mheducation.com/ext/map/index.html?
l

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